It turns out that Howard Stern isn't going anywhere. After ongoing threats to leave Sirius XM, the so called "shock jock" has signed a new contract.
The Howard Stern contract is for a term of five years, though the parties didn't detail the financial terms of the agreement. Under the new deal, Sirius XM can transmit Howard Stern's program on mobile devices. The previous Howard Stern contract was worth $500 million dollars.
Based on previous comments by Stern (and the financial hardship of his employer), it seems unlikely that Stern took a pay cut:
"I am not taking a f--ing pay-cut," Stern said. "Why would I have to take a pay-cut? ... Who is this guy to say this in public? ... I know what I have done in this company. I am more important than Oprah, in this company anyway."
For months there had been questions about where the raunchy Stern might end up, with the possibility of going back to terrestrial radio emerging. But that was in doubt due to his past problems with federal regulators over his racy, vulgar content. Other possibilities included a premium cable television show. But ultimately Stern chose to stay put.
"On my first day in satellite radio Sirius had approximately 600,000 subscribers. Today, the two companies have 20 million, and, in my view, we have just scratched the surface of how many people will get on board," Howard Stern said in a statement, The Associated Press reports.
"I have come to the conclusion that the real innovators, the real geniuses are the people here at Sirius," said Stern, according to the Hollywood Reporter. "I can say with almost certainty that this [will be] my final five years on radio."
The Howard Stern contract signing ensures that his widely popular show will continue to air from 6 to 10 a.m. Eastern, Monday through Thursday.